MADRID, Feb 2 (Reuters) - Spanish fourth-largest telecom
operator MasMovil, currently owned by three buyout funds KKR
, Cinven and Providence, has approached Vodafone
to buy its local unit, Spanish news website El Confidencial said
on Wednesday, citing unidentified sources close to the funds.
Talks are at an "intermediary phase" and include valuation
discussions, El Confidencial said, citing the sources, adding
that Vodafone's Spanish unit was valued at 7 billion euros
($7.90 billion) in 2019.
A spokesman for Vodafone in Spain declined to comment, but
Chief Executive Nick Read said his company was "active on a
number of M&A fronts". He said there is a strong case for
consolidation in Spain.
Vodafone's revenues in Spain have fallen for the past few
quarters as the company has lost customers.
MasMovil declined to comment.
($1 = 0.8864 euros)
(Reporting by Inti Landauro and Andres Gonzalez, Editing by
Louise Heavens)
Vodafone (VOD)